Looks like Deva and you guys are heading in same direction but with different vision. Deva dont want to discourage you by making below comments. as open source anyone is free to make anything over Bitcoin Protocol.
Deva wants to ask few questions about the project nemesis.
Very 1st why created 3 threads and not discussed only in one thread. making confusion and losing track on discussion.
Do India needs another Crypto currency?crypto currency aka Bitcoin is made for quick transfer of money with lowest possible transaction fees, Indian ppls are not much aware of crypto currency funda yet. and each month there are 2-3 coins get launched. 1st thing Indians are not fully aware of bitcoin yet and now there are almost 150+ new coins. they are confusing where to see and what to do with it?.
Its getting like they made US dollar and so we going to make Rupee. because we want Indian Version.
Crypto currency ( Bitcoin) are decentralized you cannot bound it to any state or country.
There are plenty of things to do other than just making currency and trade for fiat. Bitcoin is just tip of iceberge. there are plenty of possibilities to invent over Bitcoin Protocal.
What happened with Laxmi coin developer team.?There was few peoples who going to make laxmicoin where are those developers. have you talked with them and get involved or asked them to support? Deva heard they have said their software is ready an just waiting for clear guidelines from RBI.
Attributes for coin?There are 100 of coins with different attributes. each one has different pros and cons. how many coins have to studied so far? CPU only GPU only ASCII resistance?
Distribution of coin
This really doesn't matter until you decide your vision. so if Yo put 21mil limit or ONE coin or make it 100 Bil makes no different if you stuck in profit and loss. even the low volume coin got failed. and high volume coins got stucked because of high supply and low demand. are you trying to make Currency? Commodity?
what if coin failed? whats your closing plans?Coin may be fails either due to software problems. lack of development, lack of support. or lack of adoption or maybe something else. what's assurance for investors that their money won't be lost or atleast losses will be minimum. you can make coin and say I dont expect profit from it. but those who are investing in your coins. they want returns on it. that's why they are called investors. so what's closing plan.
Attitude:"Well if you dont like alt coin then dont get involved in it" : this is not good attitude, it reminds me Gavins words " You really have no business creating your own block chain .......". Every Person is important when you call it community project. Did you forgot the Story "A Man who broke the Bank" taught us in school
These are just Deva's few thoughts. based on the last few days reading posts of the project Nemesis.
About Deva: Deva's Vision is to increase awareness in Indians about Cryptography, Bitcoin , Bitcoin Protocol. so in coming next 5-10 years any 5th grade student should be able to teach others about cryptography, or may be next SHA-4 or SHA-5 designer will be from India.( no.. its not Bold Statment, We are Indians.)
He is trying to make altcoin since last 2 months. he have studied almost 25 - 35 alt coin from CPU only, GPU and ASCII dependant. He is not interested making profit out of it. but he is interested when someone else come up and say to him " Hey ! have you heard about this?". He already got his client working and running and now he have moved on 2nd stage of development. he already got promotional ideas which are not even addressed by anyone else in last 15 days in these 3 threads.
Do Deva have White Paper? Deva dont know should he call his document as white paper or not. its just few pages document containing most of the things he studied in last 3-4 months. and attributed few facts with the Indian perspective. he puts himself in others shoes and try to look at it and notes down the things. it's not full proof.
Last but not least, Deva is not good in English so bear it
I like the way Deva addresses in third person +1
Three threads, the reason are. One for the main discussion , the second for the coin spec. and the third for name and team signup (will be closed soon), easier to track these instead of having one post and missing out info by mistake. this thread is the main one.
1. Well the entirety of this project is to make it a community based project, from concept to the final release. Every one can contribute and discus the merits of the system to be implemented . Yes this is not a truly localized currency but a currency that can provide a wider penetration in the indian ecosystem. by providing a development base and a volume that can be distributed through the nation. This is to make people more familiar to cryptocurrency some thing that the population can contribute to can use and benefit from. a gateway to the worldwide cryptocurrency environment, Bitcoin will always stay on of that list of currency.
2. Regarding Laxmicoin. that is not a crypto currency , it is centralized and can be put at par to VC that are already operating, like ukash and LS. not really a cryptocoin, dont know why people even put that on the same level as cryptocurrency baffles me. (highly profit oriented and commercial)
3. Attributes of the coin is to have stability, an Attributes that can be a much better fit for the indian ecosystem than Bitcoins are at the moment. We can look at Distribution as penetration and acceptability.
4. If the coin fails then, it was an awsome learning experience for every one involved and a good way to increase ones learning curve. and a step towards building a great dev team for future projects. We dont have investors in this project just contributors, every one contributing what ever they can. profit is not the motive.
Deva vision and mine seems to be the same.
Well Deva you can come in and show us your specs and if you like to can even be part of the project if you like.
We dont have a white paper yet still in the process of the 1 phase(this is going slow as all the contributors do this as a side project and the only motive is learning and making some thing that would be great).
We dont mind the english you can write in hindi if you like.
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